I am diabetic. Can I still get a life insurance policy?

Yes, it is possible to get a life insurance policy if you have type 1 or type 2 diabetes. 

Type 1 diabetes

Type 1 diabetics frequently enjoy long, healthy lives. However, there is a higher chance of developing health conditions.  Additionally, you may have a higher chance of having a heart attack or a stroke. Because of this greater risk life insurance frequently costs more for type 1 diabetics. This is true for both whole-of-life insurance and term life insurance.

Due to the fact that type 1 diabetes is a pre-existing condition, you may be required to have a medical exam when applying for insurance. You can also be asked for some more information about your health. This includes the medications you take as well as your most recent HbA1C results. Your BMI may also be examined by the insurer. They will also likely inquire about any issues you may have that are caused by type 1 diabetes.

Type 2 diabetes

For type 2 diabetics you may also be asked to undergo a medical exam, provide your blood glucose readings and disclose your BMI. Sometimes, if you can show that you are managing your weight, keeping fit and reducing your smoking and drinking habits then your premiums could potentially be lower. Although, this depends on the individual provider. 

As with most pre-existing conditions, your premiums may cost a bit more than someone without diabetes seeking life insurance coverage. This is because of the potential health risks associated with both conditions. Don’t let this put you off considering life insurance because your diabetes diagnosis is not the only thing that insurers will consider and there are often ways of managing the potential risks that could bring your premium cost down.
For a tailored life insurance quote that is unique to your circumstances, visit our website. Our experts are on hand to help you choose the right life insurance product from a panel of some of the largest insurers in the country.